Logistics giant sells European operation

Haulage firm Wincanton yesterday announced its exit from mainland Europe after agreeing the sale of businesses employing 3,000 staff.

The deal with logistics firm Rhenus covers Wincanton’s operations in 38 locations in Germany and its businesses in France, which provide contract logistics and transport services and operate from 30 sites.

Boss Eric Born, who took the helm in December, said the proposed disposal will enable Wincanton to focus on its core UK market.

The sale price is €44 million (£38.5m), while Rhenus will assume a pension deficit of around €30m.

Wincanton currently employs 26,000 people and boasts Sainsbury’s, WH Smith and Comet among high-profile clients in the UK. It recently announced plans to grow its operations in the public sector.